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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Chennai held that Assessing Officer should have allowed 200% weighted deduction on DSIR-certified capital expenditure under s...
Income Tax : The Delhi High Court held that borrowing funds to repay an earlier loan falls within the assessee's commercial wisdom. It upheld t...
Income Tax : The High Court upheld the dismissal of a writ petition seeking action on an alleged tax evasion complaint, holding that no case fo...
Income Tax : The ITAT held that a transfer pricing adjustment under Section 80-IA(10) cannot be sustained without proving the statutory conditi...
Income Tax : The ITAT Ahmedabad held that the CIT(A) wrongly dismissed the appeal as time-barred despite a condonation application being on rec...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Central Government notifies U/s. 10(46) Bihar Electricity Regulatory Commission, a body constituted by the State Government of Bihar, in respect of the following specified income arising to that Commission,
In Income tax biggest cracker is the cracker that explodes in 6 different ways, we call it as Six Shots and that cracker is of SEARCH OR RAID.
The application for the Valuer Approval will be initiated through control register. On successful initiation, Pendency will be created in the worklist of user initiating the workflow.
This is in reference to the subject mentioned above. The functionality for approval of Gratuity, Superannuation and Provident Fund Approvals is available in Administration Functions module of ITBA w.e.f. 19.09.2016.
CBDT has further released data relating to distribution of income and tax payable in respect of returns filed for Assessment Years 2013-14 and 2014-15.
It has come to notice that some returns-of-income having ‘claim of refund’ pertaining to Assessment Years 2014-2015, 2013-2014 and 2012-2013 were not processed within the time-frame prescribed under sub-section (1) of section 143 of the Income-tax Act, 1961 (‘Act’).
The existing DTAA provided for residence based taxation of capital gains on shares. In line with India’s policy of taxation of capital gains on shares, the revised DTAA provides for source based taxation of capital gains arising from alienation of shares comprising more than 5% of share capital.
Central Government hereby directs that, with effect from the 1st day of November, 2016, specified Income-tax authorities to exercise specified powers and perform the functions of ‘Authority’ under Prohibition of Benami Property Transactions Act, 1988.
(1) These rules may be called the Prohibition of Benami Property Transactions Rules, 2016. 2) They shall come into force on the 1st day of November, 2016.
Central Government hereby appoints the 1st day of November, 2016 as the date on which provisions of Benami Transaction (Prohibition) Amendment Act, 2016 shall come into force.
